Tag Archives: PC Specialists
Egad! It is the Most Likely Schedule!
One has to remember that a schedule is a time estimate. It is not the exact actual time value at the time. Experienced professionals try to provide a plausible estimate. Nobody really knows what would be the definitive value.
ML date (or most likely duration) is not the same as expected date (or expected duration). It is but a component of the expected value. With the three point estimates (Triangular or Beta) available, one can calculate the expected duration of an activity, a group of activity, and the whole project’s duration.
It is one of the questions asked more often in risk-based planning and scheduling. Project directors, managers, planners, and schedulers have to know what this term means.
Each time a scheduler tries to explain the concept, he easily gets lost in his own circumlocution. It might be his indirectness compounded by the fact that this particular term shares common but blurred boundaries with some other project and risk management terms.
In view of such difficulties, let us put their words and thoughts on paper so that project practitioners can better understand. Continue reading
Setting the Critical Path
In the big situation, a man’s blind belief usually ends in disaster. Continue reading
Schedule Critical Path
Pencil pushers and computer jockeys are people who do not know what is going on around them, but moved only by the task to transfer listed data into the system.
Does this mean that the term critical path is but a salesperson word? Continue reading
Conducting Project Analysis: Using PIRCAD Approach Part 1
Faced with a question on how one would analyze a problematic situation on the spot without going to any existing analytic templates and guidelines, the PIRCAD approach was born. The acronym is odd sounding but easy to remember. It simply … Continue reading
Risk as a Function of Time – Part 2
By this time, you should have read the first part of “Risk as a Funtion of Time.” Let us get back to the “time component” of risk and answer a simple question made by a Transport Manager operating the Red … Continue reading
Risk as a Function of Time – Part 1
I have just delivered a short presentation in a University project management course under sponsorship of a local oil and gas company when a student followed me out to ask about risk as a function of time. It is amazing … Continue reading
Book: Risk-based Management in the World of Threats and Opportunities
“Risk-based Management in the World of Threats and Opportunities” is now available in paperback and kindle editions. Check it out and grab a copy! https://youtu.be/wxWgYUhiWos This book provides new/additional knowledge to project management practitioners (beginners to experts), risk management specialists, … Continue reading
WELCOME TO My WordPress.com Website: “Your World, Our Risk Universe”
Our Risk Universe is vast and many frontiers remain untested. Your world is the midst of it. Your world, our risk universe! Places, events, people, processes continue to change and puzzle us, even in what we might perceive as something familiar. To understand the … Continue reading
Your World, Our Risk Universe 
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